Citizens Financial Group (NYSE:CFG) Price Target Cut to $36.00

Citizens Financial Group (NYSE:CFG - Get Free Report) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $36.50 to $36.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 3.75% from the stock's current price.

Several other equities research analysts have also issued reports on CFG. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a "market perform" rating in a research note on Friday, April 5th. UBS Group lifted their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, January 18th. Evercore ISI lifted their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the stock an "in-line" rating in a report on Thursday, March 28th. Argus lifted their price objective on Citizens Financial Group from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, Citigroup lifted their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.73.

Citizens Financial Group Price Performance

CFG stock traded up $0.59 during mid-day trading on Wednesday, hitting $34.70. 4,844,535 shares of the stock were exchanged, compared to its average volume of 5,753,595. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average price of $33.87 and a 200 day moving average price of $31.15. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $36.38. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 12.57 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the firm earned $1.00 EPS. The company's revenue for the quarter was down 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that Citizens Financial Group will post 3.24 EPS for the current year.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares of the company's stock, valued at approximately $1,471,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company's stock.

Institutional Trading of Citizens Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in shares of Citizens Financial Group by 1.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 127,285 shares of the bank's stock worth $4,619,000 after buying an additional 2,003 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Citizens Financial Group by 2.8% in the 1st quarter. BNP Paribas Financial Markets now owns 510,183 shares of the bank's stock worth $18,515,000 after buying an additional 14,105 shares during the last quarter. Klingman & Associates LLC grew its stake in shares of Citizens Financial Group by 26.8% in the 1st quarter. Klingman & Associates LLC now owns 420,721 shares of the bank's stock worth $15,268,000 after buying an additional 89,052 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $786,000. Finally, HB Wealth Management LLC grew its stake in shares of Citizens Financial Group by 29.4% in the 1st quarter. HB Wealth Management LLC now owns 11,140 shares of the bank's stock worth $404,000 after buying an additional 2,529 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.